Q&A for How to Buy a Car

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How much money do I need to buy a car?

Bryan Hamby
Professional Auto Broker
Bryan Hamby is the owner of Auto Broker Club, a trusted auto brokerage in Los Angeles, California. He founded Auto Broker Club in 2014 out of a passion for cars and a unique talent for customizing the car dealership process to be on the buyer’s side. With 1,400+ deals closed, and a 90% customer retention rate, Bryan’s focus is to simplify the car buying experience through transparency, fair pricing, and world class customer service.

Bryan Hamby

Professional Auto Broker

Expert Answer

That all depends on the type of car. I suggest you visit a bank or credit union and ask about loans. The loan amount you get will help determine your budget for a car.

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Question

How do I decide on what used car to buy?

Bryan Hamby
Professional Auto Broker
Bryan Hamby is the owner of Auto Broker Club, a trusted auto brokerage in Los Angeles, California. He founded Auto Broker Club in 2014 out of a passion for cars and a unique talent for customizing the car dealership process to be on the buyer’s side. With 1,400+ deals closed, and a 90% customer retention rate, Bryan’s focus is to simplify the car buying experience through transparency, fair pricing, and world class customer service.

Bryan Hamby

Professional Auto Broker

Expert Answer

I suggest you use a website like Carfax to get a vehicle history report on the car you're interested in. This will give you good background information on the vehicle. The first report is typically free. After that, they cost about $40 apiece.

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Question

What should I consider when buying a new car?

Bryan Hamby
Professional Auto Broker
Bryan Hamby is the owner of Auto Broker Club, a trusted auto brokerage in Los Angeles, California. He founded Auto Broker Club in 2014 out of a passion for cars and a unique talent for customizing the car dealership process to be on the buyer’s side. With 1,400+ deals closed, and a 90% customer retention rate, Bryan’s focus is to simplify the car buying experience through transparency, fair pricing, and world class customer service.

Bryan Hamby

Professional Auto Broker

Expert Answer

I suggest you make sure the vehicle fits your lifestyle needs, such as having the right number of seats or the cargo space you need. Also, ask yourself whether you feel excited about the purchase.

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Question

Is it possible to buy a car in cash?

Bobby Boyd

Community Answer

Sure. If you pay over $8,000-$10,000 in cash, it has to be reported to the IRS.

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Question

How much money should I put down on a car?

Community Answer

Ten to twenty percent is recommended. The more money you put down, the less you have to finance, which means lower payments.

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Question

How can I buy auto insurance?

Community Answer

You can go to different company websites and request quotes based on the information that you provide for them.

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Question

Is 13 years old too early to start saving up for my first car?

Curtis Fairgrieve

Community Answer

It depends what you're looking for. Ideally, young drivers should stick to smaller, city cars, as they're economical, fun and simple to drive. While 13 is a very young age to start saving up for one, bear in mind you will have to pay for lessons, test fees and insurance, as well.

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Question

How do I get a car with no credit and no license?

Community Answer

Work hard and save a large percentage of your income. Once you've saved the total amount needed to purchase the car that you want, buy it.

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Question

What should I do if the dealer won't let me buy the car unless I fill out the 4 square worksheet?

Community Answer

Either fill out the 4 square worksheet, or go hit up another dealer that doesn't require you to do that.

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Question

Approximately how much do acquisition fees, destination charges, tax, title, and other fees cost for a used car?

Frank Nicolo

Community Answer

This varies from state to state. Contact a title agency in your area for the best answers to those questions.

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Question

What credit score do I need to get financing for a vehicle?

Community Answer

This depends on where you get your financing from. Some dealerships will offer financing to individuals with no credit history or poor credit, but these financing options are likely to have very high interest rates, so you will end up paying much more for the vehicle you want. Outside of that, most lenders will require you to have at least a "Fair" credit score (580+) to take out a loan, but this will depend on the lender, the loan, and other factors.

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Question

Do I get the car insurance or the car first when buying a car?

Community Answer

Buy insurance after you by the car, but before you drive it (it's quick and easy to do).

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